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COMMENT | Unbridled rape and pillage of EPF continues

A QUESTION OF BUSINESS | Last week’s announcement by the prime minister that members of the Employees Provident Fund (EPF) can withdraw up to a further RM10,000 from their accounts represents the continued rape and pillage of the retirement scheme at the expense of its over 15 million members.

As we shall show, there is really no reason for this when the economy is already recovering, employment is up, and only a very small percentage of EPF members actually have been affected in terms of income by the Covid-19 pandemic.

The only reason for this now is not even to stimulate the economy anymore but to provide a feel-good factor to millions of voters so that they will vote for BN in the coming 15th general elections (GE15). Even the opposition has jumped on this bandwagon.

They are supporting this ongoing outrage of depleting retirement savings, especially of the poor, while previously they had been vehemently against it, in a clear indication that politics is taking precedence over what is right.

Ahead of the Johor elections...

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